From Mitsipedia

The Mitsubishi Verada was the flagship Mitsubishi in Australia and competed directly with the Ford Fairmont and Holden Calais. It is based on the Magna but is treated up-market styling and a mass of extras.

The Verada was introduced in the Second Generation

The Verada has also given us a preview of engines to be optional on later Magnas. The KR introduced the 3.0L V6 engine in 1991, almost two years prior to it becoming optional on the TR. The 3.5L V6 became available on the KE in 1996, yet wasn't available in a Magna until 1999 with the release of the TH.

Verada Models

Second Generation

Third Generation